Half Dimes — History, Key Dates & the Unique 1870-S
1792–1873 • America's First Coin • The Legendary 1802 & the $3.12M 1870-S
Half Dime Value Guide
Key Dates and Typical Values by Type
| Date / Type | Mintage | Good (G-4) | VF-20 | AU-50+ |
|---|---|---|---|---|
| 1794–1795 Flowing Hair (first year) | ~86,416 | $1,750+ | $8,000+ | $25,000+ |
| 1796–1797 Draped Bust Small Eagle | Varies | $1,600+ | $7,500+ | $30,000+ |
| 1800–1801 Draped Bust Heraldic Eagle | Varies | $1,600 | $6,000 | $20,000+ |
| 1802 — Second Greatest Rarity | 3,060 | $45,000+ | $150,000+ | $456,000+ (no Mint State exists) |
| 1829–1837 Capped Bust (common) | Varies | $40 | $150 | $700+ |
| 1837–1873 Seated Liberty (common) | Varies | $15 | $50 | $250+ |
| 1870-S — The Great Rarity | Unrecorded (1 known) | $3,120,000 (2023 record) — the only known example | Unique | |
Origins of the Half Dime — America's First Coin
The half dime holds a genuinely unique distinction in American numismatics: it was the very first coin struck by the newly established United States Mint. In July 1792, on the orders of President George Washington, roughly 1,500 "half dismes" were struck at a private cellar workshop in Philadelphia — before the Mint's own building was even completed — using silver reportedly supplied by Washington himself. He later described the achievement in his fourth annual address to Congress as "a small beginning," a phrase that has become deeply associated with the coin's origin story ever since.
Regular production for circulation began with the Flowing Hair design in 1794 and 1795, followed by the Draped Bust design (in two reverse sub-types) through 1805. What followed was one of the most dramatic production gaps of any U.S. denomination: no half dimes were struck at all between 1806 and 1828 — a full 23-year silence — before the Capped Bust design revived the denomination in 1829. The Seated Liberty design took over in 1837 and carried the half dime through its final year, 1873, when the Coinage Act of 1873 — the same law that eliminated the standard silver dollar and gave rise to the Trade Dollar — discontinued the half dime entirely in favor of the copper-nickel five-cent piece that had been introduced alongside it since 1866.
Design Types Across the Series
The half dime's 81-year run (with its 23-year gap) encompasses four major design types. The Flowing Hair type (1794–1795) shows Liberty with windswept hair, matching the design used on the contemporary silver dollar and half dollar. The Draped Bust type (1796–1805) split into two reverse sub-types — a small eagle (1796–1797) and a later heraldic eagle (1800–1805, with no coins dated 1798, 1799, or 1804) — mirroring the exact same design transition seen on the early dime and quarter of the same era.
After the 23-year hiatus, the Capped Bust type (1829–1837) introduced John Reich's soft-cap Liberty design, the same style used across several other denominations of the period. Finally, the Seated Liberty type (1837–1873) — the longest-running half dime design at 36 years — adopted Christian Gobrecht's seated Liberty motif shared with the dime, quarter, half dollar, and dollar of the same era, including its own No Stars, Stars, Arrows, and Legend sub-types.
The 1802 — A Rarity Since the 19th Century
The 1802 Draped Bust Half Dime has been recognized as a great rarity since collectors first began seriously cataloging American coins in the mid-1800s. Only 3,060 were struck, all from a single die pair — meaning every genuine surviving example traces back to the exact same two dies. An estimated 25 to 35 examples survive today across all grades, and remarkably, no Mint State example has ever been confirmed to exist — every known survivor shows some degree of circulation wear, making this a rarity born from genuine use rather than deliberate preservation by contemporary collectors who had no idea how significant the date would become.
A PCGS AU-53 example — among the finest known — realized $456,000 at a Heritage Auctions sale in August 2022. Even heavily worn or problem examples routinely command $30,000 to $45,000. The 1802 stands alongside the 1804 Dollar and 1823/2 Quarter as one of the recognized "crown jewels" of early American numismatics, and given the extreme values involved, authentication by PCGS or NGC is absolutely essential for any purchase.
The 1870-S — America's Unique Half Dime
If the 1802 is the half dime series' great rarity, the 1870-S is its ultimate mystery. Official U.S. Mint records list no half dime production at San Francisco for 1870 at all — yet the San Francisco Mint had six pairs of half dime dies on hand that year. The leading theory connects the coin to the cornerstone-laying ceremony for the new San Francisco Mint building (later nicknamed the "Granite Lady"), where a complete set of denominations was reportedly struck as commemorative pieces to be sealed inside — the exact same theory associated with the famous 1870-S Seated Liberty Dollar and the equally unique 1870-S $3 Gold Piece.
For over a century, no one knew the 1870-S half dime existed at all. Then, in early 1978, a coin dealer purchased what he assumed was an ordinary Seated Liberty half dime from a "cheap coins" box at a coin show — and discovered it was an entirely unrecorded date. The coin was exhibited at the American Numismatic Association convention that year and sold to a Michigan dealer for $425,000. Decades later, graded PCGS MS64 with CAC approval, that same coin sold for a record $3,120,000 at Heritage Auctions in January 2023. It remains the only confirmed 1870-S half dime known to exist — one of only a small handful of United States coins with just a single verified survivor.
Key Dates and Major Rarities
1870-S — The Unique Half Dime
1802 Draped Bust
1792 Half Disme
1796–1797 First Circulation Types
1829 Capped Bust — First Year Back
1837 Seated Liberty — No Stars
Shop Half Dimes on eBay
Browse common Capped Bust and Seated Liberty dates to certified early American rarities — the 1802 and 1870-S are genuine treasures, always buy certified from a reputable major auction house.
Half Dime References on Amazon
Where to Buy Half Dimes
These are the marketplaces and resources used by serious half dime collectors for buying and research.
eBay
eBay — Early Half Dimes
JM Bullion
Kitco
Money Metals Exchange
SD Bullion
Silver Gold Bull
FRC Coin Price Guide
Related Coin Guides
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Frequently Asked Questions
What is the rarest half dime?
The 1870-S is the ultimate rarity — only one confirmed example exists in the entire world, and no official Mint record even shows it was struck. It was overlooked for over a century before being discovered by accident in 1978, and later sold for a record $3,120,000 in 2023. The 1802 is the "second-rarest" half dime, with 25–35 known survivors and no confirmed Mint State example — a genuine rarity in its own right, just not unique like the 1870-S.
Why is the half dime called "America's first coin"?
In July 1792, on the direct order of President George Washington, roughly 1,500 "half dismes" were struck at a private Philadelphia workshop — before the U.S. Mint's own building was even completed. This makes the half dime the very first coin struck under the authority of the newly established United States Mint, a distinction Washington himself referenced when he described it as "a small beginning" in his address to Congress.
Why did half dime production stop for 23 years?
No half dimes were struck between 1806 and 1828 — one of the most dramatic production gaps of any U.S. denomination. The early Mint operated on a deposit-driven system rather than a fixed schedule, and during this period silver bullion simply wasn't being deposited specifically for half dime production, likely due to a combination of limited Mint capacity and insufficient commercial demand for the small denomination relative to other priorities.
Why was the half dime discontinued?
The Coinage Act of 1873 formally discontinued the half dime — the same sweeping law that eliminated the standard silver dollar and gave rise to the Trade Dollar. By that point, the copper-nickel five-cent piece (the modern "nickel"), introduced in 1866, had made the silver half dime increasingly redundant, since both coins represented the same five-cent value. The nickel proved cheaper to produce and more durable in circulation, and it fully replaced the half dime going forward.
What is the connection between the 1870-S half dime and the 1870-S dollar?
Both coins share the same extraordinary origin story. Official Mint records show no production of half dimes, quarters, silver dollars, or $3 gold pieces at the San Francisco Mint in 1870 — yet examples of several of these "unrecorded" denominations have surfaced over the decades. The leading theory holds that a small ceremonial batch of each denomination was struck for the cornerstone-laying of the new San Francisco Mint building. The half dime and the $3 gold piece from this group are each known by only a single surviving example; roughly a dozen 1870-S dollars are known.
What is a good entry point for collecting half dimes?
Common-date Seated Liberty half dimes from Philadelphia in Good to Fine condition offer the most accessible entry point, typically available for $15–$50. From there, collectors often pursue the Capped Bust type as a distinctive design before eventually working toward the Draped Bust and Flowing Hair series and their major rarities. The 1802 and 1870-S represent the ultimate, largely unattainable challenges that define a truly complete half dime collection.
United States Half Dime Coin - This still remains the key reference for varieties for Liberty Seated Half Dimes, as these are designated under V numbers from this book.
A Guide Book of Mercury Dimes, Standing Liberty Quarters, and Liberty Walking Half Dollars - Hundreds of high-resolution, full-color photographs
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